Question: Question 2 4 points Save Answer A Simple Interest FVP1.rt) B. Compound Interest FV - P(1 + ryt Savings Annuity PV-a (1 + r/kk -

Question 2 4 points Save Answer A Simple Interest FVP1.rt) B. Compound Interest FV - P(1 + ryt Savings Annuity PV-a (1 + r/kk - 1) D. Payout/Loan Annuity PV-01 - (1 + r)-N) (r/R) For the problem below, first identify the formula to be used (Type A B, C or D). Then identify the values and fill in the correct values in the formula. Show that filled out formula below. DO NOT SOLVE THE PROBLEM. Ivan needed money for college. He borrowed $6000 at 12% simple interest per year. If he paid a total of $540 interest what was the duration of the loan? Note: You can use the button in the tool bar to enter mathematical answers, For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) BIUS Paragraph Arial 14px

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